Saturday, 26 July 2008

Updates on Price Fixing

After surfing through the internet, I was rather shocked to see that past and prisent executives of British Airways are facing anti-competition charges for price fixing on fuel surcharges which you can see here. This is quite an inquiry because this might lead to the fact that fuel surcharges are not supposed to be so expensive and thus recommending a lower fuel surcharges.

I gather that there is a possibility that with oil prices are increasing as the day goes by, oil companies are taking the advantage to increase their profits without helping consumers to pay less for fuel. Oil is expensive because oil exporters especially the OPEC members are reluctant to increase their oil production taking into account that the demand for oil increases by the day! Common sense will tell you that when demand outnumber supply, it will lead to price increase of oil!

I really hope that the governmnet will take immediate steps to counter the rapid increase in oil prices which is larly uncalled for. People spreading rumours will not help in lowering oil prices but instead increases oil prices.

No comments: